Millennium Management LLC Has $9.10 Million Stock Holdings in Sally Beauty Holdings, Inc. (NYSE:SBH)

Millennium Management LLC boosted its stake in shares of Sally Beauty Holdings, Inc. (NYSE:SBH - Free Report) by 945.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 847,956 shares of the specialty retailer's stock after acquiring an additional 766,815 shares during the quarter. Millennium Management LLC owned about 0.83% of Sally Beauty worth $9,099,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Wasatch Advisors LP lifted its position in Sally Beauty by 16.8% during the 1st quarter. Wasatch Advisors LP now owns 3,731,016 shares of the specialty retailer's stock worth $46,339,000 after acquiring an additional 535,753 shares during the period. Foundry Partners LLC acquired a new stake in shares of Sally Beauty in the 2nd quarter valued at approximately $535,000. Lazard Asset Management LLC lifted its holdings in shares of Sally Beauty by 303.7% in the 1st quarter. Lazard Asset Management LLC now owns 429,938 shares of the specialty retailer's stock valued at $5,339,000 after buying an additional 323,438 shares during the period. Profit Investment Management LLC acquired a new stake in shares of Sally Beauty in the 1st quarter valued at approximately $1,737,000. Finally, Maverick Capital Ltd. lifted its holdings in shares of Sally Beauty by 141.3% in the 2nd quarter. Maverick Capital Ltd. now owns 262,481 shares of the specialty retailer's stock valued at $2,816,000 after buying an additional 153,707 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. DA Davidson reissued a "neutral" rating and issued a $12.00 price target on shares of Sally Beauty in a report on Tuesday, August 13th. Piper Sandler lowered their price objective on Sally Beauty from $14.00 to $13.00 and set an "overweight" rating for the company in a research report on Thursday, July 11th. Finally, StockNews.com raised Sally Beauty from a "hold" rating to a "buy" rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $11.00.

Sally Beauty Price Performance

SBH traded down $0.11 during trading on Wednesday, reaching $12.94. The stock had a trading volume of 668,357 shares, compared to its average volume of 1,330,217. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 8.80 and a beta of 1.53. The company has a quick ratio of 0.40, a current ratio of 2.12 and a debt-to-equity ratio of 1.69. Sally Beauty Holdings, Inc. has a 1-year low of $7.21 and a 1-year high of $13.94. The stock has a 50 day moving average of $12.41 and a two-hundred day moving average of $11.54.

Sally Beauty (NYSE:SBH - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The specialty retailer reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.05. Sally Beauty had a net margin of 3.99% and a return on equity of 31.88%. The business had revenue of $942.30 million for the quarter, compared to the consensus estimate of $931.77 million. During the same period in the prior year, the business posted $0.49 earnings per share. Sally Beauty's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities analysts anticipate that Sally Beauty Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Sally Beauty Company Profile

Sally Beauty Holdings, Inc operates as a specialty retailer and distributor of professional beauty supplies. The company operates through two segments, Sally Beauty Supply and Beauty Systems Group. The Sally Beauty Supply segment offers beauty products, including hair color and care products, skin and nail care products, styling tools, and other beauty products for retail customers, salons, and salon professionals.